Cool Weather Leads to Lower Guidance for DuPont

Thursday, 13 Jun 2013 | 10:05 AM ETReuters

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Chemical maker DuPont said its operating profit would fall more than it expected in the first half of the year as a wet spring in North America and Europe hurt its agriculture business, sending its shares down 1.5 percent.

Dupont is focusing on food and agricultural products to cut its dependence on a weakening market for paint pigments.

The company expects its first-half operating earnings per share to be about 10 percent below last year, Chief Financial Officer Nicholas Fanandakis said in a statement on Thursday. The company had forecast a 7 to 9 percent fall in April.

Options Action: Doom for Dupont?

A bearish bet on Dupont, with CNBC contributor Mike Khouw of CRT Capital Group LLC.